Regulatory Alerts2024-12-19 | Circular No. 4 of 2024Relief Measures to Assist the Affected Small and Medium Enterprises
The Central Bank of Sri Lanka mandates licensed banks to provide targeted relief measures to Small and Medium Enterprises affected by recent economic disruptions, requiring eligible borrowers to enter reschedulement agreements by June 2025 with repayment start dates scaled to their outstanding capital balances. Banks must waive unpaid interest accrued between April 2019 and December 2024 according to facility amounts and settlement timelines, while simultaneously reporting restructured loans to the Credit Information Bureau without rejecting applications solely due to adverse records. Borrowers retain the right to appeal rejections and request detailed charge breakdowns, ensuring transparent implementation of these financial concessions.
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